Please help me figure out what i did wrong. It's due in an hour.

Required information Required information Great Adventures Problem AP3-1 [The following information applies to the questions displayed below.) Tony and Suzie graduate from college in May 2021 and begin developing their new business. They begin by offering clinics for basic outdoor activities such as mountain biking or kayaking. Upon developing a customer base, they'll hold their first adventure races. These races will involve four-person teams that race from one checkpoint to the next using a combination of kayaking, mountain biking, orienteering, and trail running. In the long run, they plan to sell outdoor gear and develop a ropes course for outdoor enthusiasts. On July 1, 2021, Tony and Suzie organize their new company as a corporation, Great Adventures Inc. The articles of incorporation state that the corporation will sell 37,000 shares of common stock for $1 each. Each share of stock represents a unit of ownership. Tony and Suzie will act as co-presidents of the company. The following transactions occur from July 1 through December 31. d Jul. 1 Sell $18,500 of common stock to Suzie. Jul. 1 Sell $18,500 of common stock to Tony. Jul. 1 Purchase a one-year insurance policy for $4,680 ($390 per month) to cover iljuries to participants during outdoor clinics. Jul. 2 Pay legal fees of $1,100 associated with incorporation. Jul. 4 Purchase office supplies of $1,300 on account. Jul. 7 Pay for advertising of $380 to a local newspaper for an upcoming mountain biking clinic to be held on July 15. Attendees will be charged $40 on the day of the clinic. Jul. 8 Purchase 10 mountain bikes, paying $17,000 cash. Jul. 15 On the day of the clinic, Great Adventures receives cash of $1,600 from 40 bikers. Tony conducts the mountain biking clinic. Jul. 22 Decause of the success of the first mountain biking clinic, Tony holds another mountain biking clinic and the company receives $2,000. Jul. 24 pay $930 to a local radio station for advertising to appear imediately. A kayaking clinic will be held on August 10, and attendees can pay $110 in advance or $160 on the day of the elinie. ded Required information JUL. 22 Because of the success or the first mountain biking clinic, Tony nolas another mountain biking clinic and the company receives $2,000. Jul. 24 Pay $930 to a local radio station for advertising to appear immediately. A kayaking clinic will be held on August 10, and attendees can pay $110 in advance or $160 on the day of the clinic. Jul. 30 Great Adventures receives cash of $5,500 in advance from 50 kayakers for the upcoming kayak clinic. Aug. 1 Great Adventures obtains a $45,000 low-interest loan for the company from the city council, which has recently passed an initiative encouraging business development related to outdoor activities. The loan is due in three years, and 6% annual interest is due each year on July 31. Aug. 4 The company purchases 14 kayaks, paying $24,700 cash. Aug. 10 Twenty additional kayakers pay $3,200 ($160 each), in addition to the $5,500 that was paid in advance on July 30, on the day of the clinic. Tony conducts the first kayak clinic. Aug. 17 Tony conducts a second kayak clinic, and the company receives $11,900 cash. Aug. 24 office supplies of $1,300 purchased on July 4 are paid in full. Sep. 1 To provide better storage of mountain bikes and kayaks when not in use, the company rents a storage shed for one year, paying $3,720 ($310 per month) in advance. Sep. 21 Tony conducts a rock-climbing clinic. The company receives $13,700 cash. Oct. 17 Tony conducts an orienteering clinic. Participants practice how to understand a topographical map, read an altimeter, use a compass, and orient through heavily wooded areas. The company receives $19,300 cash. Dec. 1 Tony decides to hold the company's first adventure race on December 15. Four person teams will race from checkpoint to checkpoint using a combination of mountain biking, kayaking, orienteering, trail running, and rock-climbing skills. The first team in each category to complete all checkpoints in order wins. The entry fee for each team is $500. Dec. 5 To help organize and promote the race, Tony hires his college roommate, Victor. Victor wili be paid $30 in salary for each team that competes in the race. His salary will be paid after the race. Dec. 8 The company pays $1,300 to purchase a permit from a state park where the race will be held. The amount is recorded as a miscellaneous expense. Dec. 12 The company purchases racing supplies for $2,800 on account due in 30 days. Supplies include trophies for the top-finishing teams in each category, promotional shirts, snack foods and drinks for participants, and field markers to prepare the racecourse. Dec. 15 The company receives $20,000 cash from a total of forty team, and the race is held. DAR 16. The company. DAVR Victorialary of $1.200 3 Part 2 of 5 3.55/5 points awarded Scored Sep. 21 Tony conducts a rock-climbing clinic. The company receive Oct. 17 Tony conducts an orienteering clinic. Participants practice how to understand a topographical map, read an altimeter, use a compass, and orient through heavily wooded areas. The company receives $19,300 cash. Dec. 1 Tony decides to hold the company's first adventure race on December 15. Four-person teans will race from checkpoint to checkpoint using a combination of mountain biking, kayaking, orienteering, trail running, and rock-climbing skills. The first team in each category to complete all checkpoints in order wins. The entry fee for each team 1 5500. Dec. 5 To help organize and promote the race, Tony hire his college roommate, Victor. Victor will be paid $30 in salary for each team that competes in the race. His salary will be paid after the race Dec. The company pays $1,300 to purchase a permit from a stato park where the race will be held. The amount is recorded as a miscellaneous expense. Dec. 12 The company purchases racing supplies for $2,800 on account due in 30 days. Supplies include trophies for the top-finishing teams in each category, promotional shirts, nack food and drinks for participants, and field markers to prepare the racecourse. Dec. 15 The company receives $20,000 cash from a total of forty teams, and the race la held. Dec. 16 The company pays Victor salary of $1,200. Dec. 31. The company pays a dividend of $3,200 (81,600 to Tony and $1,600 to $uzie). Dec. 31 Using his personal money, Tony purchases a diamond ring for $4,700. Tony surprises Susie by proposing that they get married. Susie accepts and they get married! The following information relates to year-end adjusting entries as of December 31, 2021 Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $8,800 b. Six months of the one year insurance policy purchased on July 1 has expired, c. Four months of the one-year rental agreement purchased on September 1 hos expired. d. Of the $1,300 of office supplies purchased on July 4, $400 remains e. Interest expense on the $45.000 loan obtained from the city council on August 1 should be recorded. 1. Of the $2,800 of racing supplies purchased on December 12, $260 remains 9. Suzie calculates that the company owes $13,100 in income taxes. 2. Record adjusting entries as of December 31, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 5 No Debit Credit Date Dec 31, 2021 1 > General Journal Depreciation Expense Accumulated Depreciation 8,800 8,800 varded ed 2. Dec 31, 2021 2,340 Insurance Expense Prepaid Insurance 2,340 3 Dec 31, 2021 900 X Rent Expense Prepaid Rent 900 4 Dec 31, 2021 1,300 X Supplies Expense (Office) Supplies (Office) O 1,300 5 Dec 31, 2021 Interest Expense Interest Payable 45,000 45,000 6 Dec 31, 2021 Supplies Expense (Racing) Supplies (Racing) 260 260 $ 7 Dec 31, 2021 Income Tax Expense > 13,100 Required 2,340 > Prepaid Insurance 900 3 Dec 31, 2021 Rent Expense Prepaid Rent 900 1,300 4 Dec 31, 2021 Supplies Expense (Office) Supplies (Office) 1,300 ed 45,000 5 Dec 31, 2021 Interest Expense Interest Payable 45,000 260 6 Dec 31, 2021 Supplies Expense (Racing) Supplies (Racing) 260 7 Dec 31, 2021 13.100 Income Tax Expense Income Tax Payable 13,100